Acorn Energy Equity Affiliate Paketeria AG Gets Volksbank Investment

This follows the May opening of "shop-in-bank" pilot stores in five Volksbank branches in Celle, a suburb of Hanover with a population of 70,000.

As part of the agreement, Volksbank Meissen also made a small equity investment in Paketeria.

Volksbank Meissen's first major promotion will be Stromboerse (100% owned by Paketeria) services for cost savings on energy and gas.

Remarked Acorn Energy CEO, John Moore: "The investment and 12 shop-in-bank licenses by Volksbank Meissen is very important, as it follows the early success of the five pilot stores at Volksbank Celle. We are very impressed at the speed of Volksbank's management to embrace this opportunity."

"This is another milestone in the development of our shop-in-bank concept. We are in negotiations with many other Volksbanks and are excited about these future opportunities for expansion of the shop-in-bank model," said Paketeria CEO Andy Rosch." -- Acorn Energy, Inc.